Accounting exam 2 review - Study guides, Class notes & Summaries

Wall Street Prep The Premium Package Review: Accounting & Financial Statement Analysis Exam Latest 2023/2024 Questions and Answers (Score: 95%, 38 correct out of 40). Score: 95%, 38 correct out of 40 Question 1 Assume US GAAP to answer this question. In 2017, $2 million in wages were earned and no cash wages were paid. In 2018, $8 million in wages were earned and $7 million in cash wages were paid. Cash wages were used to first pay wages earned in 2017 with the remainder used to pay wages...

Intermediate Accounting Exam 2 Review with Complete Solutions | Verified & Updated

Intermediate Accounting Exam 2 Review with Complete Solutions | Verified & Updated

Depreciation is not a matter of valuation - It is a process of cost allocation. Book value = - Carrying Value = Historical (original) cost - Accumulated depreciation What does the balance sheet show for the value of a depreciable asset? - Book value What are the types of depreciation? - 1.) Straight-line Method 2.) Accelerated Depreciation 3.) Double Declining-Balance Method 4.) Sum-of-the-years'-digits Method 5.) Units-of-output Method 6.) Working hours Method What method is used for ...

Intermediate Accounting Exam 2 Review Questions With Correct Answers Depreciation is not a matter of valuation - answerIt is a process of cost allocation. Book value = - answerCarrying Value = Historical (original) cost - Accumulated depreciation What does the balance sheet show for the value of a depreciable asset? - answerBook value What are the types of depreciation? - answer1.) Straight-line Method 2.) Accelerated Depreciation 3.) Double Declining-Balance Method 4.) Sum-of-the-years...

HFA Study Guide Exam Questions And Answers (Verified And Updated) Who's responsible for the investigation of complaints concerning licenses? - answerThe division How many C.E.s does a HFA need every two years? - answer40 C.E. credits If a person is not licensed as an HFA or RCA, what title can't they use? - answerAssistant HF Administrator Assistant RC Administrator If using the word "administrator" but not actually licensed, then they are in violation of Indiana law. The designatio...

Intermediate Accounting Exam 2 Review with 100% Verified Answers| Verified & Updated

Intermediate Accounting Exam 2 Review Questions With Correct Answers Depreciation is not a matter of valuation - answerIt is a process of cost allocation. Book value = - answerCarrying Value = Historical (original) cost - Accumulated depreciation What does the balance sheet show for the value of a depreciable asset? - answerBook value What are the types of depreciation? - answer1.) Straight-line Method 2.) Accelerated Depreciation 3.) Double Declining-Balance Method 4.) Sum-of-the-years...

Intermediate Accounting Exam 2 Review Questions and Answers (Graded A+) Intermediate Accounting Exam 2 Review Questions and Answers (Graded A+) Intermediate Accounting Exam 2 Review Questions and Answers (Graded A+) Intermediate Accounting Exam 2 Review Questions and Answers (Graded A+) Intermediate Accounting Exam 2 Review Questions and Answers (Graded A+) Intermediate Accounting Exam 2 Review Questions and Answers (Graded A+) Intermediate Accounting Exam 2 Review Questions an...

WGU D196- Principles of Financial and Managerial Accounting COMPLETE EXAM REVIEW 2023 COURSE REQUIREMENT bookkeeping - day to day keeping of transcations steps of decision making - identify issue gather information identify alternatives select option that most likely results in desired objective accounting - analysis of events record and report financial effects of business activities where does capital come from (3) - investors creditors(lenders) business itself (from earnings...